Country Garden chairman Yeung Kwok-keung attends the developer’s annual results briefing in March. Its contracted sales fell from 53.5 billion yuan in April to 40 billion yuan in May. Photo: David Wong

China’s big developers saw sales decline in May on property curbs

Developers encounter difficulty gaining pre-sale permits, exacerbating supply shortage

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Country Garden chairman Yeung Kwok-keung attends the developer’s annual results briefing in March. Its contracted sales fell from 53.5 billion yuan in April to 40 billion yuan in May. Photo: David Wong
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